- Joined Nov 23, 2012
Let's hope it is a roller coaster.
I've been in the biz for 25+ years. Most of us wear neck braces to stop the whiplash. Poor Intel won't go broke anytime soon.Let's hope it is a roller coaster.
Intel will maintain its plan to spend $9.5 billion on capital equipment this year, mainly for 10nm processors and 3D NAND flash. Meanwhile new division president Venkata "Murthy" Renduchintala is evaluating which Intel products will get the axe.
After a worse than expected first quarter, Intel predicted its second quarter will see revenue fall slightly to $13.5 billion. It drew down forecasts of 2016 revenue slightly to mid-single digit growth and raised its predictions for PC declines to high single digits.
How this work 'self-assessment' crap became the norm in this industry is a big mystery to me. I flat out told them I won't do it.Everything started going downhill when employees started writing their own reviews.
One senior executive, describing his company’s experience using a forced-ranking procedure to identify its A, B, and C performers, told me of the same problem: “The As are afraid they’ll be considered Bs, the Bs are scared they’ll be seen as Cs, and all the Cs are convinced that they’re A players.”
I never understood the logic of having the whole company writing reviews vs just the managers.How this work 'self-assessment' crap became the norm in this industry is a big mystery to me.
Internal documentation provided to The Oregonian/OregonLive by employees indicates that Intel expects many cuts will come through buyouts, an early retirement program, site closures and eliminated programs.
Intel expects thousands of additional layoffs, targeted at employees who fared poorly in the company's rigorous annual review process, called Focal. As with job cuts last year, some employees will be targeted for layoff based on their level of performance-based stock grants. That layoff criteria sparked deep unhappiness among some employees last year, who said they didn't anticipate their stock compensation would be used that way.
Intel put a number to its Oregon layoffs Tuesday, notifying the state that it will issue layoff notices to 784 employees in Hillsboro and Aloha by Friday.
That amounts to 4 percent of the company's 19,500 Oregon employees. The job cuts that began Monday are part of a plan Intel announced last week to reduce its total work force by 12,000 jobs as it retools the company to prepare for long-term decline in its core market, the PC business.
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by Jake Hertz
by Jake Hertz